Ninety One UK Ltd Lowers Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Ninety One UK Ltd decreased its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 76.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 509,927 shares of the electronics maker's stock after selling 1,689,815 shares during the quarter. Ninety One UK Ltd owned about 0.53% of Dolby Laboratories worth $39,825,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DLB. Fifth Third Bancorp boosted its position in shares of Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 301 shares during the last quarter. Mather Group LLC. grew its stake in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after buying an additional 142 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock worth $60,000 after buying an additional 146 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after buying an additional 525 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock traded down $0.62 on Friday, reaching $83.81. 419,807 shares of the company were exchanged, compared to its average volume of 503,875. The stock's 50 day moving average price is $79.87 and its 200-day moving average price is $75.90. The company has a market cap of $8.00 billion, a P/E ratio of 30.81 and a beta of 0.98. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.57%. Dolby Laboratories's payout ratio is 48.53%.

Insider Transactions at Dolby Laboratories

In related news, EVP Mark Andrew Sherman sold 12,338 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total value of $963,351.04. Following the transaction, the executive vice president now directly owns 62,397 shares of the company's stock, valued at $4,871,957.76. This trade represents a 16.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John D. Couling sold 50,000 shares of the business's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the completion of the sale, the senior vice president now directly owns 106,806 shares of the company's stock, valued at approximately $8,548,752.24. This trade represents a 31.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 182,917 shares of company stock valued at $14,861,429. Insiders own 38.39% of the company's stock.

Analysts Set New Price Targets

DLB has been the topic of a number of research analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th. Barrington Research reissued an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Monday, January 27th. Finally, StockNews.com lowered Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st.

Dolby Laboratories Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.